Dubai is one of the best destinations for investors looking to start a company. The city has entrepreneurs from across the world investing in business. And the best thing is that you do not need to worry about how to form a company here.
Setting up a business in a free zone is relatively easier. There requires require minimum paperwork, and it takes relatively less time. All you need to do is just follow a few steps below in order to will be able to setup a company here.
Steps to be followed:
- Determine the type of legal entity
- Choose a trade name
- Apply for a business licence
- Choose an office space
- Get pre-approvals, register your business and get your licence
Determine the type of legal entity
Decide on the type of legal entity your business would take up. In a free zone, there are two types of companies you can start.
- Free Zone Limited Liability Company (FZ LLC) or Free Zone Company (FZ Co.)
- Free Zone Establishment (FZE)
There are differences in the number of shareholders and whether the shareholder is a natural person or a legal person. Note that all free zones might allow both types of companies. So it is important to check with your preferred individual free zone authorities about the type of company you can register there. You should refer to the list of free zones and their authorities to choose the free zone that allow the type of business you want to start.
Choose a trade name
After you have determined the type of legal entity your business should take, you need to choose a trade name.
While choosing a trade name, consult the respective free zone authority or the Department of Economic Development to know if the name you decide to choose is already registered. If it is, you cannot register it for your business; you need to look for another name which is not registered.
Get the relevant license
The type of business license you should apply for will depend on the primary activity of your business. There are three major types of licenses that cover all businesses activities allowed within freezones.
- Professional License
- Commercial License
- Industrial License
All the business activities come under these categories. Whether you want to start a sole establishment, LLC, civil work company, representative office, or a branch of foreign company, these are licenses you need to choose from. Get know which license is suitable for your Dubai Freezone Company Formation or it is better to take help of a company formation agency that can help you with, right from choosing the license, applying for it, to all other things required for running a business.
